I joined the private group of a Twitter influencer who gives great calls. He shared a link to a project that was about to do a fair launch.

He told us this was his best gift for us, and we should ape hard for 100x gains. I bought the tokens with 2 BNB. The project rugged, and I lost my money.

However, I learned something really important that has helped me avoid the same situation. Here's what happened:

The Promise Of 100x Gains

My name is Rui. I come from a small town in the Philippines. I've been in crypto for a while, but never had a big win. I'm still looking for my own 100x gain story to tell.

In 2022, an influencer I respected so much tweeted a link to a Telegram group for people to join. He closed the group after one hour of posting the link on Twitter.

I was feeling fly to be one of the 232 members of the group. He shared a link to a project that did 3x. I secured the profit on that, and I was grateful.

Then he wrote a long message on the importance of looking out for fair launches for maximum gains. He then told us that he has a link to an upcoming fair launch, and we should watch out for the link.

Latee that evening, he sent a link to the project that was going to do a fair launch in 3 hours. My portfolio was worth just 3 BNB at the time, so I risked two BNB with the hope of making life-changing money.

I Received The Shock Of My Life

After buying with 2 BNB, I noticed that the price was going down. My two BNB turned into one BNB within 15 minutes. I was wondering what was going on. "Isn't this thing supposed to be going up?"

I looked at the Dexscreener.com chart, and it was going down. There were a lot of green buys and a few red sells. What exactly could be going on.

Shortly after, the project's Telegram group was locked. By this time, my two BNB were worth $24. I wanted to cry, but I couldn't find the tests. I was pained.

I Found Out What Happened

I decided to do a little digging. Actually, this was what I was supposed to have done before buying. I can't cry over spilled milk, so I tried to find answers.

I soon found out from on chain data that at launch, there was 90% of the total supply in circulation. Now here's what the devs did.

Before announcing the contract address to the public, they bought 85% of the total token supply for $77 after adding a tiny amount of liquidity. You can imagine what happened next.

As people were buying, the team was selling into the liquidity. It was too late for me to recover my money at this point. But I learned some important lessons.

Lessons I Learned

Before buying any token, look at on-chain records for first few activities

Never blindly follow what anyone says, verify

Only risk what you're willing to say goodbye to

Ever since this time, I haven't suffered any rug pull. I hope you learned something from me

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